Market Overview:
The global industrial induction melting furnaces market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for steel and copper products, globally. Additionally, the growing automotive and construction industries are also fueling the demand for induction melting furnaces in various regions across the globe. Based on type, the global industrial induction melting furnaces market is segmented into below 1 ton, 1-30 tons, and above 30 tons capacity segments. The above 30 tons capacity segment is expected to account for a major share of the global market during the forecast period owing to its high production efficiency as compared to other types of induction melting furnaces. Based on application, steel and copper are two key segments of the global industrial induction melting furnaces market.
Product Definition:
Industrial induction melting furnaces are a type of furnace that uses induction heating to melt metal. This type of furnace is often used in industrial settings, as it is efficient and can melt large quantities of metal quickly.
Capacity: Below 1 Ton:
Capacity:Below 1 ton is the most preferred capacity melting furnace among small & medium industries. It has the least capital investment and operating cost as compared to other types of induction melting furnaces. The primary reason for its acceptance in SMEs is that it can be used for both ferrous and non-ferrous alloys at the same time, unlike other types which are limited to ferrous alloys.
Capacity: 1-30 Tons:
Industrial induction melting furnaces are used for melting metal alloys and non-alloy metals such as aluminum, copper, lead, zinc and tin. These furnaces operate at a temperature of up to 16000C. They are mainly used in the manufacturing industries for various processes such as plating & coating operations; electrolytic refining; electric smelting; pickling & annealing operations among others.
Application Insights:
The steel application segment held the largest market share in 2017 and is projected to expand further at a steady CAGR from 2018 to 2030. The rising demand for steel from construction, automotive, machinery and other industries is expected to drive the industry growth over the forecast period.
Copper applications include railway track maintenance, medical equipment and others. These types of furnaces are primarily used in foundries or casting shops where large quantities of copper metal are required for various purposes such as electrical cables & wires production or surgical instruments manufacturing process. In addition, these types of furnaces are also widely used in various other industries such as electronics & semiconductor which require small quantities of copper metal but huge volumes at a time with low cost per unit volume compared to buying it directly from mines or suppliers.
Regional Analysis:
Asia Pacific dominated the global industry in 2017 and is expected to continue its dominance over the forecast period. The region has witnessed a surge in demand for induction melting furnaces from end-use industries such as aerospace, automotive, construction, consumer electronics and others. This can be attributed to rapid industrialization coupled with increasing foreign investments across various sectors including steel and mining.
The growing manufacturing sector across emerging economies of Asia Pacific including China and India is anticipated to drive product demand over the forecast period. In addition, favorable government policies aimed at promoting domestic production activities are likely to contribute toward higher production volumes of products such as electric vehicles along with their components which require high-quality steel produced using induction melting technology.
Europe accounted for more than 20% share of global revenue in 2017 owing to rising R&D investments by manufacturers coupled with technological advancements within the regional market itself.
Growth Factors:
- Increasing demand for castings from the automotive and aerospace industries
- Growing popularity of electric vehicles, which require more lightweight components that can be produced through casting processes
- Rising demand for customized products with specific properties
- Advances in induction furnace technology that make the process more efficient and reduce manufacturing costs
- Growing awareness of the benefits of using induction melting furnaces among small- and medium-sized businesses
Scope Of The Report
Report Attributes
Report Details
Report Title
Industrial Induction Melting Furnaces Market Research Report
By Type
Capacity: Below 1 Ton, Capacity: 1-30 Tons, Capacity: Above 30 Tons
By Application
Steel, Copper
By Companies
Inductotherm Group, OTTO Junker GmbH, ABP Induction Systems, ECM Technologies, ALD Vacuum Technologies, Electrotherm, ULVAC, Fuji Dempa, Induction Technology Corporation (ITC), Taichiku, Amelt Corporation, Secowarwick, Lihua, PVA IVS GmbH, Dai-ichi High Frequency
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
142
Number of Tables & Figures
100
Customization Available
Yes, the report can be customized as per your need.
Global Industrial Induction Melting Furnaces Market Report Segments:
The global Industrial Induction Melting Furnaces market is segmented on the basis of:
Types
Capacity: Below 1 Ton, Capacity: 1-30 Tons, Capacity: Above 30 Tons
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Steel, Copper
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Inductotherm Group
- OTTO Junker GmbH
- ABP Induction Systems
- ECM Technologies
- ALD Vacuum Technologies
- Electrotherm
- ULVAC
- Fuji Dempa
- Induction Technology Corporation (ITC)
- Taichiku
- Amelt Corporation
- Secowarwick
- Lihua
- PVA IVS GmbH
- Dai-ichi High Frequency
Highlights of The Industrial Induction Melting Furnaces Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Capacity: Below 1 Ton
- Capacity: 1-30 Tons
- Capacity: Above 30 Tons
- By Application:
- Steel
- Copper
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Industrial Induction Melting Furnaces Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Industrial induction melting furnaces are used to melt and cast metals, alloys, and other materials. The furnace is an electric arc furnace that uses a magnetic field to create a high-temperature atmosphere in the chamber. This allows the material to be melted more easily and quickly, leading to improved production rates.
Some of the major players in the industrial induction melting furnaces market are Inductotherm Group, OTTO Junker GmbH, ABP Induction Systems, ECM Technologies, ALD Vacuum Technologies, Electrotherm, ULVAC, Fuji Dempa, Induction Technology Corporation (ITC), Taichiku, Amelt Corporation, Secowarwick, Lihua, PVA IVS GmbH, Dai-ichi High Frequency.
The industrial induction melting furnaces market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Industrial Induction Melting Furnaces Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Industrial Induction Melting Furnaces Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Industrial Induction Melting Furnaces Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Industrial Induction Melting Furnaces Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Industrial Induction Melting Furnaces Market Size & Forecast, 2018-2028
4.5.1 Industrial Induction Melting Furnaces Market Size and Y-o-Y Growth
4.5.2 Industrial Induction Melting Furnaces Market Absolute $ Opportunity
Chapter 5 Global Industrial Induction Melting Furnaces Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Industrial Induction Melting Furnaces Market Size Forecast by Type
5.2.1 Capacity: Below 1 Ton
5.2.2 Capacity: 1-30 Tons
5.2.3 Capacity: Above 30 Tons
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Industrial Induction Melting Furnaces Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Industrial Induction Melting Furnaces Market Size Forecast by Applications
6.2.1 Steel
6.2.2 Copper
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Industrial Induction Melting Furnaces Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Industrial Induction Melting Furnaces Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Industrial Induction Melting Furnaces Analysis and Forecast
9.1 Introduction
9.2 North America Industrial Induction Melting Furnaces Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Industrial Induction Melting Furnaces Market Size Forecast by Type
9.6.1 Capacity: Below 1 Ton
9.6.2 Capacity: 1-30 Tons
9.6.3 Capacity: Above 30 Tons
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Industrial Induction Melting Furnaces Market Size Forecast by Applications
9.10.1 Steel
9.10.2 Copper
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Industrial Induction Melting Furnaces Analysis and Forecast
10.1 Introduction
10.2 Europe Industrial Induction Melting Furnaces Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Industrial Induction Melting Furnaces Market Size Forecast by Type
10.6.1 Capacity: Below 1 Ton
10.6.2 Capacity: 1-30 Tons
10.6.3 Capacity: Above 30 Tons
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Industrial Induction Melting Furnaces Market Size Forecast by Applications
10.10.1 Steel
10.10.2 Copper
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Industrial Induction Melting Furnaces Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Industrial Induction Melting Furnaces Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Industrial Induction Melting Furnaces Market Size Forecast by Type
11.6.1 Capacity: Below 1 Ton
11.6.2 Capacity: 1-30 Tons
11.6.3 Capacity: Above 30 Tons
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Industrial Induction Melting Furnaces Market Size Forecast by Applications
11.10.1 Steel
11.10.2 Copper
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Industrial Induction Melting Furnaces Analysis and Forecast
12.1 Introduction
12.2 Latin America Industrial Induction Melting Furnaces Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Industrial Induction Melting Furnaces Market Size Forecast by Type
12.6.1 Capacity: Below 1 Ton
12.6.2 Capacity: 1-30 Tons
12.6.3 Capacity: Above 30 Tons
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Industrial Induction Melting Furnaces Market Size Forecast by Applications
12.10.1 Steel
12.10.2 Copper
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Industrial Induction Melting Furnaces Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Industrial Induction Melting Furnaces Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Industrial Induction Melting Furnaces Market Size Forecast by Type
13.6.1 Capacity: Below 1 Ton
13.6.2 Capacity: 1-30 Tons
13.6.3 Capacity: Above 30 Tons
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Industrial Induction Melting Furnaces Market Size Forecast by Applications
13.10.1 Steel
13.10.2 Copper
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Industrial Induction Melting Furnaces Market: Competitive Dashboard
14.2 Global Industrial Induction Melting Furnaces Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Inductotherm Group
14.3.2 OTTO Junker GmbH
14.3.3 ABP Induction Systems
14.3.4 ECM Technologies
14.3.5 ALD Vacuum Technologies
14.3.6 Electrotherm
14.3.7 ULVAC
14.3.8 Fuji Dempa
14.3.9 Induction Technology Corporation (ITC)
14.3.10 Taichiku
14.3.11 Amelt Corporation
14.3.12 Secowarwick
14.3.13 Lihua
14.3.14 PVA IVS GmbH
14.3.15 Dai-ichi High Frequency
